Bluesource and Element Markets, two private equity-backed providers of products and services such as carbon credits to companies seeking to take action on climate change, said on Wednesday they had agreed to merge.
The combined entity will be majority-owned by the impact investing arm of alternative asset manager TPG Inc and will be the largest originator and marketer of carbon and environmental credits in North America, the companies said.
Bluesource, which is backed by investment firm GEF Capital, advises companies on how to reduce their carbon footprint through the use of offsets and projects ranging from reforestation to wastewater treatment.
NGP Energy Capital Management, another private equity firm, will also have a stake in the combined company, the parties said.
Read more: Reuters
